ACCA and QuickBooks Study Finds that UK SMEs with accountants achieve higher revenues

Intuit QuickBooks, Dr Chris Brauer of the University of London, and the Association of Chartered Certified Accountants (ACCA) have published a joint study on the correlation between accountancy services and revenue growth across 4000 SMEs in the UK. Major statistics from the study include: 

• Micro-businesses (1-9 employees) experienced a 7.9% increase in revenue. 

• Enterprises (10-49 employees) experienced a 10.1% increase in revenue. 

• Firms (50-99 employees) experienced a 12.8% in revenue. 

• Large SMEs (100-250 employees) experienced a 13.7% increase in revenue. 

UK’s SMEs lose thousands yearly from unmanaged expenses, with the primary reason being a “lack of time” and using professional accounting services can save between 9.1-11.6 hours per week.  

However, most businesses are reluctant to hire new staff for accounting functions because of the financial strain, especially with the Labour Party’s Autumn Budget coming into effect in 2025.  

H Connect International provides a unique solution to this situation. 

Our team of CIMA, CPA, and ACCA-qualified accountants can take over all your back-end accounting functions from bookkeeping, taxation, payroll, financial statement preparation, accounts payable, invoice-to-cash, record-to-report, enterprise performance management, and finance and accounting consultancy services. 

We provide high-quality accounting services tailored specifically to the UK at a significant cost arbitrage of 60-70%, inclusive of recruitment, infrastructure, employee benefits, and operations management.  

With years of experience serving UK businesses, we deeply understand the intricacies of local operations. We've successfully streamlined the entire finance function of a major UK care provider, implementing automation solutions (Macros, Power Query, VBA) to save 30 hours monthly, reduce costs by 20%, and enhance accuracy to 99%. 

Our end-to-end accounting services come with:  

• Multi-layered Security: We are ISO/IEC 27001:2022 certified and adhere to strict protocols, including the General Data Protection Regulation (GDPR) and Data Protection Acts, with multi-layered security controls and regular audits to ensure the complete security of your data.  

• Industry-renowned partnerships: We maintain strong partnerships with industry-leading global entities like ACCA, CIMA, CMA, and CPA, with 8 new partnerships forged this year alone. This gives us access to best-in-class talent and our team full access to exclusive workshops and special training opportunities.    

• Superior Client Service: Following our client-centric philosophy, we take a case-dependent approach in creating solutions because we understand that to each client, ‘success’, will mean something different. Our focus is always to generate long-term value for our clients.   

• A 5-step Transition Plan: Our tried-and-tested 5-stage onboarding process ensures seamless integration into your operations and a smooth transition from strategy into execution.  

• A Business Continuity Plan: As a Hirdaramani group venture with a 100-year legacy, a partnership with us comes with a complete guarantee of stability. We’ll work together to create a Business Continuity Plan, ensuring zero downtime and absolutely no disruptions to service delivery.    

• State-of-the-Art Facilities: Your offshore team will operate from a state-of-the-art delivery center at the World Trade Center, equipped with the latest technology to support your business needs.  

• Technical Expertise: We equip teams with all the software and technical training across different types of accounting software and ERPs to fully integrate into your operations. Additionally, we provide analytics-driven insights and value-adding recommendations to streamline your operations through Power BI, Fathom, and Tableau.   

• Time Zone Advantage: As an extension of your operations, we align our schedule to yours, working the same calendar and time zone for easy and efficient collaboration.  

 Reach out to discuss how our expert accountants can boost your revenue and free up your time.